Inter Parfums, Inc. (NASDAQ:IPAR) to Issue Quarterly Dividend of $0.75

Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.75 per share on Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, June 14th.

Inter Parfums has increased its dividend payment by an average of 96.4% annually over the last three years and has raised its dividend every year for the last 3 years. Inter Parfums has a payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Inter Parfums to earn $5.75 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 52.2%.

Inter Parfums Trading Up 3.0 %

Shares of NASDAQ IPAR traded up $3.52 during midday trading on Thursday, hitting $122.00. The stock had a trading volume of 89,015 shares, compared to its average volume of 143,614. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums has a 1-year low of $114.71 and a 1-year high of $156.75. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 24.94 and a beta of 1.19. The company has a fifty day moving average price of $131.38 and a 200 day moving average price of $134.95.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $323.96 million during the quarter, compared to analysts’ expectations of $324.00 million. During the same quarter in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on IPAR shares. Piper Sandler lowered their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th. Finally, DA Davidson reissued a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a research report on Thursday.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.